Noon

Every day, the UK insurance industry pay out ~£2.5M in ‘Escape of Water - EoW’ claims as a
result of burst pipes/faults in a property’s plumbing system. EoW currently represents the
biggest threat to property accounting for 24% of all domestic property insurance claims. EoW
from domestic properties also presents a significant environmental impact: ~9.7bn litres of
water is lost every yr due to domestic appliances breaking their connection; the average
household leaks up to 45K litres of water per yr as a result of leaky appliances & leaking
pipes.
Smart meters offer a partial solution, providing consumers with the opportunity to monitor
their usage in (near) real time. However no existing system effectively addresses the
significant issue of EoW, with the actual adoption of any form of smart water metering tech
still behind that of the energy sector (just 7 out of 25 water utilities in the UK offering smarter
metering) as a result of a no. of key tech challenges:
-Current techs do not allow the householder any form of control/action, ie switch appliances
on/off
-Limited meter battery life, impacting cost benefit, storage capacity & transmission range of
data
-Lack of inter-operability between networks
-Privacy & security concerns
Based on consultation with UK Insurers & Utility companies, Andrew Lucas - AL (leading
smart home tech designer) aim to address these limitations through the development of a
unique low cost smart system that will allow for effective management of EoW. Strong
interest has been expressed from Insurers to use Noon as an incentive as part of a policy -
providing additional piece of mind to their customers. AL also seek to target utility companies
& sustainable homes, direct B2C taking advantage of the global smart water meter market
forecast to reach £747M by 2020. Mkt entry Qu4 2017.